Do gross sales proceeds or net sales proceeds apply towards the commission/fees of personal representatives of estates in GA?

Asked 6 months ago - Savannah, GA

This is just a general question regarding the administrators and personal representatives of estates and their collection of the 2 1/2 % commission on all sums of money received on account of the estate. I have only gone by the net sales proceeds of real property but have recently been approached on the practice of using the gross sales proceeds of real property instead. Thank you!

Attorney answers (3)

  1. Loraine M. DiSalvo

    Pro

    Contributor Level 16

    8

    Lawyers agree

    Answered . I believe that it would be permissible for the Executor/Administrator to take a commission on the gross sales proceeds, and a commission on the amounts then paid for debts, taxes, or other items paid back out. That being said, an E/A is certainly free to take a commission only on the net amount.

    This answer is not intended to provide you with specific legal advice regarding your situation, or to create any... more
  2. Donald Joseph Quinn II

    Contributor Level 15

    2

    Lawyers agree

    Answered . If you are a real estate agent you really should ask your broker this question.

    Legal disclaimer: This answer does not constitute legal advice. I am admitted to practice law in the State of... more
  3. Gary Roger Waitzman

    Pro

    Contributor Level 16

    2

    Lawyers agree

    Answered . Typically gross sales would probably be used. Your state may have some local rules or general practice that dictate otherwise. In any event, this is another reason to do a trust based plan and avoid this process all together. I realize it is probably too late for your situation but this is a great example of the costs and confusion that arise from taking the simple approach to the estate plan in the first place. You might consider talking with a local estate planning attorney about your situation.

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